praveshk26

praveshk26

Price reached at point of previous selling zone indicated by trendline connecting top of jul2020, aug2021 on monthly closing basis , in weekly chart there is upside possible of another 200 points, but rsi at a place where it started going down for last 2 times on weekly chart. Any indication on daily could be an entry to go short for swing gain.

praveshk26

Currently at imp support of trendline connecting top of 2017 and 2020, also at 0.618% retracement level and support of AVWAP of 2020's low, all makes a good entry for cash with Good risk n reward, sl could be 779 (closing basis) for target of 1000, 1150, 1400.

praveshk26

Same as torrent power power grid too indicates rsi in oversold area just look at the chart with vertical blue dotted line on 20 Jul 18, 15 may19, 18mar/24sep 20, 20jun/26sep22. Especially 26sep22 candle formation shows exit of sellers here, can go long here with good risk reward , however upside 238 is a strong supply zone once broken can see level around...

praveshk26

Power sector looking good, especially torrent power n power grid, will post power grid separately. In torrent power seems in last leg of selling, thus a good time to add, also a observation point daily rsi at around 23, last two times when rsi made this low , torrent power gave a good upside rally, which you can find on chart with vertical line (blue dotted) on...

praveshk26

Posted monthly divergence on jun29, also mentioned it may take years to resolve, n we need to seek divergence in small timeframe like daily, currently found a negetive divergence n marked on chart for target of 3186 to resolve this divergence, there it may take support of ema50, as currently ema 50 is around 3000 level in between can seek support of ema 20 around...

praveshk26

Seems corrective a is finished as nifty taking support of 2 trendline confluence, 1 black long term trendline we find every time it worked as support n resistance(marked with rectangular box) nifty broke up on 1st aug consolidated n moved up to complete major wave 3, then corrected Till previous wave 4 (around 17150) which was inbuilt in wave 3 denoted as...

praveshk26 Updated 

Rsi cooled off very sharply, either can bounce from current level 1800 or can take support of EMA200 and avwap near 1730 and bounce, time to add pvr on each level, expecting 2600 before new year, as inox pvr merger ahead & FII increased their stake in recent quarter. Final sl can be the red dotted trendline connecting bottom.

praveshk26

just observe the bank nifty chart and you will realize how price action is built and respects trendline, in current scenario once red trendline is broken and preferably retest/ consolidate then we can see a good up move, like in abv chart happened 22-27jul after breaking black dotted trendline, then it retested on 23 n 29 aug (marked rectangular box) and again up...

praveshk26

SBI broke out its channel on weekly 25jul22, at 514 level, retested around511 on weekly 29aug22 and broke all hurdles on weekly 5th sep22, channel breakout target comes around 600 level and can expect it to go to 630 as well (if we draw channel's upper line to wick then target comes around 630)

praveshk26

Looks like IT fall is done now making base and getting ready for wave 3, sip mode on IT would be preferred, as it may or may not correct more , as wave 2 can go as deep as wave1 started from which is 26190, however if we check red trendline on weekly chart connecting top of feb2007, mar2015, oct2020, which was resistance now working as support as IT took support...

praveshk26

Grasim giving great entry with better risk reward of almost 1 : 4.6, where sl is 1599, and final target is 2100 level, however I between small hurdle would be at 1790, and 1930-1980, recently it gave a golden crossover opportunity on weekly chart where ema 20 crossed ema 50, also broke descending trendline connecting jan22, apr22 on friday and today gave a follow...

praveshk26

Banks looking really good, especially sbi, icici, kotak, and rbl etc., where they are trading near breakout level, while rsi is cooling off, which is very good sign, only concern is hdfc bank where stock seems in pressure, may be that to keep banknifty down and confuse public to exit their position. However if we do analysis for banknifty chart which clearly...

praveshk26

Very attractive entry triggered in divis Lab with favorable risk reward, looks like completed corrective ABC, and formed fresh wave1-2, now ready for wave 3, imp levels would be 3915, 4430, 5040....should complete wave 3 around 4430 or 5040, depending on the momentum. Cmp 3535, sl can be weekly closing below 3360.

praveshk26

Today broke its channel, breakout target comes around 1010, and 2nd target 1043 , if breaks n retest 1043 can re-enter again, as 1043-1063 is big time support zone, however it's gonna split on 28th Jul so price level will change, and generally it's is observed whenever any stock is about to split, it gives a rally just before the split. Taking support of EMA 20....

praveshk26

After long getting some interesting point to add irctc in portfolio now 1. On weekly taking support of EMA100. 2. On monthly trying to take support of EMA20 abv 600. 3. If we check fib retracemnet, taking support on Golden Ratio 0.618 n taking bounce. 4. If we put Anchored VWap on 1st candle on monthly chart, it's taking support of AVWAP' high, also it's the point...

praveshk26

Tried breaking out its trandline around 697( feb20 ), failed and fell made low around 290, recovered in next 1 year, and since aug21 till this week for almost 1 year consolidated in a tight range and tried breaking channel n trandline but got rejected from trendline(nov21, feb22). Now finally seems breakout of that 1year consolidation channel, immediate target...

praveshk26

Seems at its 5th of 5th wave, with negative divergence on weekly chart, making rising wedge, rsi heated up, all indicates it is about to or already made top, breakdown of wedge leads to target around 160.

praveshk26

Known for brands like - killer, integrity, lawmanpg3, looking great in chart, at near its bottom of channel, on monthly abt to get crossover of ema20/50/100, last time ema 20/50 crossover happend around 50 rs( jun2010), and gave exit around 315(oct2018) ,nrsi 60 up on d/w/m chart, anytime it comes to 260-240 would be the level to enter for long term, 460 level to...